Quibi was an on-demand mobile-first streaming platform focused on “quick bites” of professionally produced video content. Episodes were designed for short viewing sessions and optimized for smartphone consumption, with support for different orientations and a personalized feed.
The service targeted commuters and younger audiences with exclusive shows, celebrity-led series, and news formats, monetizing primarily via subscriptions.
What Is Quibi and What Does It Do?
Quibi, founded in 2018, was an online video streaming and OTT platform based in Los Angeles, United States. Quibi employed between 51 and 200 employees as of July 2024.
Quibi focused on short-form, premium video series designed specifically for mobile viewing, offering a personalized feed of exclusive shows and episodic content. Users could discover trending clips, explore by mood, and watch on the go via Android and iOS apps.
Although the service ultimately shut down, Quibi’s model experimented with a new format at the intersection of Hollywood-style production and smartphone-native consumption.
How Much Funding Has Quibi Raised?
1. Seed Round
- Amount Raised: $750M
- Date: March 2020
- Lead Investors: Google, Procter & Gamble, Walmart, Anheuser-Busch Companies, Disney, WndrCo, Alibaba Group
- Motivation: To finance the commercial launch, invest heavily in original content, expand marketing globally, and scale the mobile-first streaming platform.
2. Seed Round
- Amount Raised: $1B
- Date: August 2018
- Lead Investors: Alibaba Group, Disney, 21st Century Fox, Sony Pictures, Lions Gate Entertainment, NBCUniversal, Entertainment One, ViacomCBS, Integrated Technical Vision, Liberty Global, JPMorgan Chase, WarnerMedia, MGM Studios, Goldman Sachs
- Motivation: To develop the platform, lock in high-profile content deals, build brand awareness, and assemble a world-class production and technology team ahead of launch.
Total Funding Raised: $1.75 Billion
Latest Funding Date: March, 2020
Key Investors
1. Google
- Details: Google is a global technology company with a strong interest in digital media, mobile ecosystems, and online advertising. Its backing of Quibi aligned with broader bets on mobile-first content and YouTube-adjacent opportunities.
- Investment Focus Areas: Internet services, advertising, cloud, mobile platforms, media.
- Notable Investments: Quibi, SpaceX, multiple media and tech ventures.
2. Disney
- Details: The Walt Disney Company is a leading global entertainment and media conglomerate with deep content, studio, and distribution capabilities. Its investment in Quibi reflected an interest in experimenting with new digital formats and distribution models.
- Investment Focus Areas: Media, entertainment, streaming platforms.
- Notable Investments: Hulu, BAMTech, Quibi.
3. Alibaba Group
- Details: Alibaba is a Chinese e-commerce and technology giant with expanding interests in entertainment, cloud, and digital media. Supporting Quibi complemented its broader global content and streaming ambitions.
- Investment Focus Areas: E-commerce, fintech, cloud, digital media.
- Notable Investments: Quibi, Weibo, various entertainment platforms.
4. Goldman Sachs
- Details: Goldman Sachs is a global investment bank and asset manager backing late-stage and media-focused deals. Its participation in Quibi reflected confidence in premium short-form streaming as a potential new asset class.
- Investment Focus Areas: Technology, media, telecom, growth-stage companies.
- Notable Investments: Spotify, Uber, Quibi.
Where Is Quibi’s Headquarters?
Quibi was headquartered in Los Angeles, United States, placing it at the center of the global entertainment and content production ecosystem. Being in LA enabled close collaboration with studios, talent, agencies, and production partners critical for high-end original programming.
What’s Next for Quibi?
Quibi as a standalone service is no longer active, and its content library and technology were effectively absorbed through subsequent deals as part of its acqui-hire outcome. The broader impact lives on in how other platforms experiment with short-form, mobile-first premium content, interactive storytelling, and smartphone-native viewing formats inspired by Quibi’s ambitious but short-lived experiment.
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